- Banking technology visitor Nymbus raised $70 million in Series D funding.
- The round was led by Insight Partners. ConnectOne Wall and PeoplesBank moreover participated.
- Nymbus introduced itself to Finovate audiences at FinDEVrNewYork in 2016. The visitor most recently demoed its technology at FinovateFall 2019.
Banking technology visitor NYMBUS has secured $70 million in new funding. The Series D round was led by Insight Partners, and featured participation from ConnectOne Wall and PeoplesBank. The Banc Fund Visitor and Mendon Venture Partners moreover participated.
The investment takes the company’s total wanted raised to increasingly than $199 million. Valuation information was not immediately available. Nymbus will use the spare wanted to support expansion and remoter minutiae of its cadre system and product portfolio.
“This latest round of financing positions the visitor to double lanugo on our mission of bringing new thinking to financial institutions to help them thrive in an ever-evolving market,” Nymbus CEO and Chairman Jeffrey Kendall said. “These strategic investments are a testament to the conviction in Nymbus’ worthiness to transform the financial services industry by modernizing outdated legacy systems with proven technology and merchantry models that result in growth for our current and future clients.”
Nymbus helps financial institutions successfully undergo digital transformation and offer new digital experiences to their customers. Solutions like Nymbus’ SmartLaunch enable financial institutions to launch a fully-operational digital wall in as few as 90 days. FIs can take wholesomeness of these deployments without having to undergo a major transformation or calling in spare human resources. The company’s SmartCore, SmartDigital, and SmartPayments solutions provide financial institutions with modern core, payments, and digital financial solutions, respectively.
Among these institutions taking wholesomeness of Nymbus’ technology is Arizona-based Vantage West Credit Union. The $2.6 billion financial institution partnered with Nymbus to launch a new niche financial trademark in April. The previous month, Michigan State University Federal Credit Union worked with Nymbus to launch a pair of standalone digital brands – AlumniFi and Collegiate. AlumniFi provides financial wellness, debt management, and charitable donation tools to MSU alums. Collegiate brings digital financial services to MSU students, faculty, and staff.
“Nymbus is empowering credit unions to unhook growth models with the people, process, and technology needed to unhook digital financial services that complement their cadre business,” Nymbus CUSO President John Janclaes said.
Photo by Susn Dybvik
